NN (NASDAQ:NNBR) Price Target Lowered to $3.00 at B. Riley Financial

NN (NASDAQ:NNBR) had its target price decreased by analysts at B. Riley Financial from $4.00 to $3.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. B. Riley Financial’s target price suggests a potential upside of 122.22% from the stock’s previous close.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of NN in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, NN presently has an average rating of “Hold” and a consensus price target of $3.00.

NN Stock Down 6.9%

Shares of NASDAQ:NNBR traded down $0.10 on Friday, hitting $1.35. 116,047 shares of the company’s stock were exchanged, compared to its average volume of 309,454. NN has a 1-year low of $1.10 and a 1-year high of $2.74. The company has a market capitalization of $67.76 million, a PE ratio of -1.26, a P/E/G ratio of 0.24 and a beta of 2.29. The company has a debt-to-equity ratio of 3.01, a quick ratio of 1.17 and a current ratio of 1.87. The firm’s 50-day moving average is $1.50 and its 200 day moving average is $1.71.

NN (NASDAQ:NNBR) last issued its earnings results on Wednesday, March 4th. The industrial products company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.31). The business had revenue of $104.72 million for the quarter, compared to analyst estimates of $105.36 million. NN had a negative return on equity of 0.88% and a negative net margin of 8.05%. Sell-side analysts predict that NN will post -0.2 EPS for the current year.

Hedge Funds Weigh In On NN

A number of institutional investors have recently modified their holdings of NNBR. J.W. Cole Advisors Inc. boosted its stake in NN by 11.9% during the 4th quarter. J.W. Cole Advisors Inc. now owns 90,600 shares of the industrial products company’s stock worth $116,000 after purchasing an additional 9,600 shares during the period. Corient Private Wealth LLC boosted its stake in shares of NN by 16.1% during the second quarter. Corient Private Wealth LLC now owns 72,000 shares of the industrial products company’s stock worth $151,000 after buying an additional 10,000 shares during the period. Catalyst Funds Management Pty Ltd purchased a new position in shares of NN during the second quarter worth about $27,000. Two Sigma Investments LP purchased a new position in shares of NN during the third quarter worth about $27,000. Finally, Hudson Bay Capital Management LP acquired a new position in NN in the 2nd quarter valued at about $29,000. 53.92% of the stock is owned by institutional investors and hedge funds.

NN Company Profile

NN, Inc (NASDAQ: NNBR) is a diversified industrial manufacturing company specializing in engineered metal components, powder metal parts and friction materials. Through its subsidiaries, the company develops and produces precision-rolled products for powertrain and chassis applications, engineered friction products for brake and transmission systems, and various metal powders used in automotive, industrial and energy markets. Its offerings span a wide range of component sizes and complexity, from thin?gauge strips for hybrid and electric vehicle applications to high?volume sintered parts for commercial and consumer products.

The company’s operations are organized into three business segments.